Tambuwal visits Obasanjo, faults Sanusi’s suspension

Aminu Tambuwal

The  Speaker of the House of  Representatives, Aminu Tambuwal, said on Sunday that the suspension of Mallam  Lamido Sanusi as the governor of the Central Bank of Nigeria could hurt the nation’s economy.

Tambuwal, who visited former President Chief Olusegun Obasanjo in Abeokuta, Ogun State, said the action by President Goodluck Jonathan was capable of   sending “wrong signals” to  international   investors about  Nigeria’s  financial institutions.

Explaining that he was at the Hilltop residence of the former  President to consult him on some  key issues of  “national interest,” the speaker stated that foreign businessmen  must have  confidence in a nation’s financial system before they could invest their funds.

He said, “Well whether (Sanusi’s suspension) is lawful, legal or illegal, the personality involved has told everybody that he is going to court and I believe  that he is already in court on that  suspension.

“On the implications for  the economy; I’m not an economist but I personally feel that it  will definitely send wrong signals to investors. This is because you need to have confidence in the financial institutions, particularly the independence of the financial institutions of a country,  before investors will consider such a country worthy of their investments.

“So, I have my concern about that.”

Tambuwal,  who maintained that he was still a card-carrying member of the ruling Peoples Democratic Party, dismissed speculations that he was planning  to leave the party for  the All Progressives Congress or any other party.

He said, “I am visiting the  national leader of  the PDP.    Baba(Obasanjo) and myself   are in the  PDP. Baba   is a leader  not only in Nigeria but in Africa and it is only appropriate for those of us in the  positions of authority and leadership to occasionally come and consult   him  on  matters of national interest and that is what we are here for today(Sunday).

“There are lots of issues in Nigeria today. Of course, there is the  issue  of  Petroleum Industry Bill that we are considering in the House. We are doing constitution amendment  and a host of other very key and  important legislation before the parliament.

“So, we needed to consult our leaders on such very important and vital legislation before we conclude what we are doing on them. The Electoral Act is likely to be amended too. So, from his wealth of experience, we need some input from  him(Obasanjo).”

Tambuwal was accompanied on the visit by  the Deputy Minority Leader of the House, Kawu Sumaila; Ajibola Muraina  and Aminu Shagari.

Also on Sunday, the  Serving Overseer of The Latter Rain Assembly, Lagos, Pastor Tunde Bakare, said   that  the  suspension of   Sansusi would have negative  implications for  the nation.

Bakare described  Jonathan’s action  against the CBN governor  as ego-driven and a destructive power game.

He said in a prepared  speech, which he delivered during  the Sunday service, that  Sanusi was being persecuted for exposing corruption in the oil industry.

The cleric warned that  Sanusi’s suspension    could have negative consequences  for  the investing public and  the nation’s  revenue.

He  said, “The suspension of Sanusi is an ego-driven, counter-productive and destructive power game that will have very dangerous consequences for the nation and the government,

“It is important not to demystify the institutions of the country. Personalities and people will go but the institutions  will  remain; the institutions must remain strong to enhance the growth and peace of the society.

“You can imagine the negative consequences of this suspension on the investing public, on shares and even on government revenue.”

Bakare  whose speech  was  titled  ‘Sanusi Lamido Sanusi and the Federal Government of Nigeria: Aitete m’ole, ole m’oloko,’  said the CBN boss became a victim because he delayed blowing the whistle about the corruption in the oil industry.

He explained that  Aitete m’ole, ole m’oloko, means  “that when the owner of the farm fails to apprehend the thief in time, the thief will apprehend the owner and label him the thief.”

The clergyman recalled  that  Sanusi’s travails started on  September 25, 2013, when  he  wrote  Jonathan accusing the Nigerian National Petroleum Corporation of failing  to repatriate $49.8bn (about N8tn) into the Federation Account between January 2012 and July 2013.

Bakare added, “The opportune time to blow the whistle  should have been “when the CBN, the Ministry of Finance, the Ministry of Petroleum Resources, the PPPRA, the NNPC and other agencies provided conflicting figures as to actual subsidy payments to the Ad hoc Committee on the management of fuel subsidy”.

According to him, the NNPC had been spared of any indictment in all the three reports  “from the 2011 KPMG report to the 2012 Farouk Lawan Committee Report and from the 2012 Nuhu Ribadu Committee Report to the 2013 Nigerian Extractive Industries Transparency Initiative report.

 “When the Save Nigeria Group raised the bar during the fuel subsidy protests and maintained that government-backed corruption fuelled by  the NNPC was the main issue, perhaps a corroborating voice by the CBN governor would have added weight to the outcry.”

The cleric   commended Sanusi for speaking up against corruption and urged him to take solace in the words of William Bryant, who once said that  “Truth crushed to earth, shall rise again.”

“Make no mistake about it, few men have the courage of Sanusi,” he said.

Also in Port Harcourt, the  Rivers State Governor  and Chairman of the Nigerian Governors’ Forum, Mr. Rotimi Amaechi,    condemned  Sanusi’s suspension, saying Jonathan took the action because he felt  that  nobody would challenge him.

The governor spoke  during a Sunday service and    reception  for the  assistant resident  ministers  by   the   Christ Church in the city.

Amaechi urged religious leaders to always hold government accountable and champion the fight against  corruption.

He said, “You can  imagine how President Jonathan announced the sudden removal  (suspension) of the CBN governor. He does not have such powers. He knows that nothing will happen and that was why he took that action.

“So, I think the preachers should begin to preach what we call  the liberation theology. You (church leaders) are supposed to have more responsibilities to hold government accountable.

 “The issue of the missing $49.8bn from the Federation Account is  still there. If you convert that money to naira, you will get N8tn  and that money can solve the problem of this country for the next few years.

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Obama, Putin speak after Ukraine deal

Barack Obama

Vladimir Putin

PRESIDENT Barack Obama held a "constructive" phone call with Russian President Vladimir Putin, Friday as he pressed for swift implementation of a deal framed to end Ukraine's deadly crackdown on protestors.
The call came at a prickly time in US-Russia relations with the two sides at odds over Ukraine, Syria and other issues, but also after Obama took pains to reject the idea that a new Cold War-style confrontation was brewing.
A senior US official described the call as "constructive" but also warned that the agreement reached in Kiev between the government and top opposition leaders was "very, very fragile."
Putin and Obama agreed that the Ukraine agreement needed to be swiftly implemented and that all sides needed to refrain from violence.
"President Putin affirmed that Russia wants to remain part of the implementation process. They also talked about the need to stabilize the Ukrainian economy and to get Ukraine back on a peaceful path," the official said, on condition of anonymity.
The call also touched on other issues including Syria, where Russia backs President Bashar al-Assad, to the fury of the United States, and the Sochi Winter Olympics.
Washington had offered staunch support for protesters in Kiev, demanding political concessions from the Moscow-backed government of President Viktor Yanukovych and had warned of "consequences" if violence, which killed 100 people did not stop.
The White House gave an initial welcome to the deal and praised European Union diplomats who helped to broker it.

- 'Courageous' opposition leaders -

White House spokesman Jay Carney said it was "consistent with what we have advocated in calling for a de-escalation of the violence, constitutional change, a coalition government, and early elections."
"We support the efforts of all those who negotiated this agreement, commend the courageous opposition leaders who recognized the need for compromise, and offer the support of the United States in its implementation," Carney said.
"We call for immediate implementation of the initial steps -- an end to the violence, amnesty and security normalization, and passage of the constitutional package in (parliament) -- to provide space for the negotiations to begin on formation of a technocratic coalition government."
Vice President Joe Biden had called Yanukovych on Thursday, warning that the United States was ready to impose sanctions if he did not halt attacks by his security forces on demonstrators which have killed nearly 100 people.
Yanukovych's dramatic decision to hold early elections and form a new unity government was met with caution by tens of thousands gathered on central Kiev's main square.
The deal was signed in the presence of EU envoys, Yanukovych and three top opposition leaders who included boxer turned lawmaker Vitali Klitschko.
A representative for Putin missed the meeting. The White House statement, however, said the deal had been "witnessed" by Russia.
Obama on Wednesday insisted that the United States did not see its many disputes with Russia as symptomatic as a struggle over a Cold War-style "chessboard."
Carney expanded on the president's remarks on Friday.
"The president is correct when he says that this is not about the United States and Russia or the West and Russia -- this is about Ukraine and the Ukrainian people and their desire for the right to choose their own destiny," he said.

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Genevieve Nnaji Signs Over N70 Million Naira Endorsement with Polo

Genevieve Nnaji

Genevieve Nnaji has  signed the dotted lines for one year endorsement deal with Polo designer company, makers of Polo wrist-watches, sun-glasses and others.
According to the information gathered, the one year deal is worth N75million.

Congratz Miss Nnaji

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Photo: Video Director Sesan Splashed Millions Of Naira in Buying A Tiger As Pet.

Sesan

Popular music video director, ^{Sesan Ogunro,} who lost his dad after a tragic robbery attack last Christmas showed off his ‘newest pet’ on Instagram some hours ago.

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I Don’t Have A Problem Acting Nude Because My Body Is My Laptop- Upcoming Actress

Sylvia Oluchy

Sylvia Oluchy, a fast rising actress in an interview with BestofNollywood, was asked if there’s a limit to what she can do on set and if she could go nude for a movie role and here is what the actress said;
''I don’t have any boundaries because my body is my laptop. Others have their laptops and files, what I have is my body and voice, Even the concept of nudity, I don’t have any problems what so ever, but it has to make sense, if it enriches the story and is done tastefully, I mean sometimes you can see nudity been done for a good reason, like in the west, they could take off their clothes to protest. Like I said, I don’t have problem with nudity, I just want it to make sense''.

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Lagos Ibadan Expressway To Be Delivered 12 Months Ahead Of Schedule

Lagos Ibadan Express Way

FOR motorists and commuters eagerly awaiting the completion of the reconstruction work going on at the Lagos-Ibadan Expressway, relief would come earlier than anticipated as the Minister of Works, Mike Onolememen at the weekend declared that the project could be delivered 12 months earlier than the initial 48 months schedule. 
  Speaking during an interactive forum with editors in his office in Abuja, Onolememen assured that with the pace of work and the mode of funding of the project, the contractors handling the project, Julius Berger Nigeria Limited and the Reynolds Construction Company (RCC), could deliver the road in 36 months, one year earlier than the schedule period for its completion.
   He said the construction project, which would gulp a total of N167 billion is been executed using a financial architecture that commits the Federal Government to providing N50 billion within two years, while the balance of N117 billion is being sourced from the private sector.
  “What we did was that the Federal Government will contribute about N50 billion into the common purse, and from the 2014 budget alone, we are contributing N25 billion and the final N25billion, which will now form the total of the Federal Government commitment to the project will be part of the 2015 budget. But beyond that, the outstanding money which totals almost about N120 billion is being raised through a private finance initiative and that was how the project was approved, and that is how we are actually realizing it.”
  According to the Minister, the private finance initiative, which is driving the project, involves the Infrastructure Bank as fund arranger, the Nigeria Sovereign Investment Authority, as well as a number of banks and financial institutions. As a result of this funding arrangement, the road will be tolled to enable investors recoup their investments and also maintain the road.
  “When you borrow money from the private sector to do an infrastructure project, the project itself should pay back for that infrastructure. It is one of the things we need to do to guarantee the sustenance of our private highways across the country.
 “The Lagos Ibadan Expressway is a major economic arterial route. For government, doing that road is not just a social service; it is also an economic service. And because it is an economic route, it can benefit from private sector investments and such investments can be recouped even from the critical infrastructure itself,” he said.
   Onolememen noted that the pace of work has been very impressive, adding that the contractors are moving faster than expected, just as he expressed optimism that the two sections would be completed before the 48-month period.
    On the perennial disagreement between states and the Federal Government over the repairs and refunds of Federal roads within states, the Minister revealed that the Federal Government would soon offload Federal roads that are within five kilometers of cities to states. The policy is informing the construction of by-passes to remove the Federal Government from the responsibilities of internal roads in the state capitals.
“When we had the Council of Works meeting in Lagos in 2012, one of our resolutions at that meeting was that we are to create a-5Km radius around states capital or cities where Federal roads traverse. Federal roads basically ought to connect one state to another.
We are now experimenting with the creation of by passes, so that, we are not brought into the issue of urban alignment because it is not the Federal Government’s responsibility to provide urban alignments and accesses to residences, offices and businesses.
  “The Federal Government doesn’t collect taxes from those people. It is the state government that collects those taxes, and they should be able to fix those roads.

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Fresh Plateau crisis claims 29

Communal Crisis in Plateau

 TWENTY-nine people have been confirmed dead in the crisis between Barkin Ladi and Bokkos local councils in Plateau State.
   It was revealed that the attack took place in two villages one of which is Rakong near Kafi Abu.
  Though the Plateau State Commissioner of Police, Mr. Chris Olakpe, confirmed the attack to journalists in Jos, but was silent on the number of people killed.
   According to him, “there was an attack in the area, but the quick intervention of the Nigeria Police, STF, SSS and Civil Defense brought the situation under control.”
   In the same vein the interim administrator of Barkin Ladi local council, Habila Dung, has confirmed the attack to journalists in Jos, saying only 10 people were killed during the crisis.

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